Vanguard Group Inc. Cuts Stock Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Vanguard Group Inc. cut its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLBFree Report) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,025,964 shares of the savings and loans company’s stock after selling 53,416 shares during the period. Vanguard Group Inc. owned about 11.52% of Berkshire Hills Bancorp worth $124,795,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BHLB. LPL Financial LLC grew its position in shares of Berkshire Hills Bancorp by 1.0% during the third quarter. LPL Financial LLC now owns 208,947 shares of the savings and loans company’s stock worth $4,189,000 after buying an additional 2,115 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Berkshire Hills Bancorp by 8.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 205,597 shares of the savings and loans company’s stock worth $4,122,000 after buying an additional 16,440 shares in the last quarter. American Century Companies Inc. grew its position in shares of Berkshire Hills Bancorp by 15.4% during the third quarter. American Century Companies Inc. now owns 397,579 shares of the savings and loans company’s stock worth $7,971,000 after buying an additional 53,162 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Berkshire Hills Bancorp by 17.1% during the third quarter. Wellington Management Group LLP now owns 1,382,777 shares of the savings and loans company’s stock worth $27,725,000 after buying an additional 201,948 shares in the last quarter. Finally, Ziegler Capital Management LLC grew its position in shares of Berkshire Hills Bancorp by 6.9% during the fourth quarter. Ziegler Capital Management LLC now owns 30,221 shares of the savings and loans company’s stock worth $750,000 after buying an additional 1,957 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB opened at $22.07 on Friday. The stock has a 50 day moving average price of $22.14 and a 200 day moving average price of $22.61. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $955.41 million, a price-to-earnings ratio of 44.14 and a beta of 0.88. Berkshire Hills Bancorp, Inc. has a 52-week low of $18.31 and a 52-week high of $25.79.

Berkshire Hills Bancorp (NYSE:BHLBGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $169.32 million during the quarter, compared to the consensus estimate of $107.89 million. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. During the same period in the prior year, the company posted $0.63 earnings per share. Research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.06 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 20th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Thursday, June 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 144.00%.

Analysts Set New Price Targets

Separately, StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Berkshire Hills Bancorp presently has an average rating of “Hold” and an average price target of $25.00.

Check Out Our Latest Report on Berkshire Hills Bancorp

About Berkshire Hills Bancorp

(Free Report)

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.

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Institutional Ownership by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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